Sunday, July 11

If you are the owner of a little-known book on economics published in 1975 called When Money Dies: The Nightmare of the Weimar Collapse by Adam Fergusson 1975 edition, then you could have made yourself some money. The book describes what could happen if European governments try to spend their way out of the recession. And shows how the German economy was brought to its knees back in the 1930s by hyperinflation (remember people carrying banknotes about in wheelbarrows to buy a loaf od bread?) after public spending was allowed to run out of control.

The reason the book has suddenly become so valuable is that it was recommended by billionaire investor Warren Buffett to a Dutch financier. The Dutch financier went out and bought up a couple of hundred copies for the Dutch parliament and the book's price shot up in value (supply and demand in action) copies have been changing hands for up to $2,400 and the copies on sale at Abebooks and Amazon at the moment start at $600.

Publisher Old Street Publishing has rushed out a new paperback edition to satisfy the demand, but if you have an old copy of the 1975 edition lying around then don't give it to your local charity shop, unless you are feeling generous. You might also like to consider scouring bookshops, the afore-mentioned charity shops, your granny's attic etc... to see if you can get your hands on a first edition (preferably in good condition).